U.S. Treasuries represent the safest and most liquid assets in the world. A U.S. Treasury Bill (T-Bill) is a short-term, debt security issued by the U.S. government. This is considered a highly liquid and risk-free investment exempt from state and local taxes. There are also U.S. Treasury Funds, which are collective investment vehicles such as money market funds or exchange-traded funds (ETFs). While U.S. Treasuries play a key role in shaping central bank policy to personal investment portfolios, these p ...